The Virtuoso Legal Team’s Top 8 IP Resolutions for 2019
As the door closes firmly on 2018 (what a year) the prospect of a new year comes into sharp relief.
2019 is full of a unique set of challenges, with a shifting global landscape likely impacting a majority of operators. However a proactive approach can turn challenges into significant opportunities.
January is often the time where businesses look to take stock on what worked well (and not so well) – and look to make strategic changes to bolster their fortunes in the coming year.
In this post the Virtuoso Legal team have compiled a set of 8 resolutions to help businesses move forward in 2019.
Virtuoso Legal’s Top Tips for 2018
Elizabeth Ward – Principal and Founder
Be careful of underestimating the value of IP within your business. The world’s leading companies all are masters of leveraging their IP (whether brands, designs, patents or otherwise) to shape the marketplace in their image. Remember to take a step back and realise how your IP underpins what you do and seek opportunities to capitalise further on it in 2019.”Elizabeth Ward
Kirsten Toft – Director
Your business is extraordinary, so why are your agreements ordinary? A lot of the time we see businesses pay lip service to their cache of agreements, which quickly reveals a weakened position when under closer scrutiny. Remember, each agreement is an opportunity to put your business’ best foot forward.”Kirsten Toft
Philip Partington – Director
If you’re subject to a claim, or you’re looking to launch a claim – avoid taking everything at face value. In the field of IP there are a lot of operators who talk a good game but simply cannot walk the walk. Ultimately, if you find yourself in a difficult position, instructing specialists who are familiar with the field, processes and procedures will always grant you the best possible position.”Philip Partington
Lakmal Walawage – Solicitor
Try to identify risks and mitigate and avoid them at an early stage. This includes doing your due diligence and being IP savvy. The costs of not doing this can be crippling to a business.”Lakmal Walwage
Jordan Davies – Solicitor
Review your jurisdictional goals for the year. Think about where you are and where you want to go. If you are looking to expand your business into another country, review your IP strategy to ensure that your brand is sufficiently protecting from potential copycats.”Jordan Davies
Gemma Wilson – Trainee Solicitor
Take time to ensure that all of your contracts are in order. Be it employment, distribution, your T&Cs, privacy and cookies policy. It might not be the most exciting activity, but if you have the protection you need from well drafted documents, you will avoid countless future pitfalls. If you need help, do not hesitate to ask!”Gemma Wilson
Lauren Waterman – Trainee Solicitor
Remember to weigh up the long term value of protecting your brand properly compared to the short term expenditure of registration. It may seem a lot to invest, but it is exactly that – an investment. Treating your brands as core assets can truly help you stand out from the crowd.”Lauren Waterman
Razvan Popa – Trainee Solicitor
Do not be afraid to take action when your IP rights are infringed or in danger of being infringed. The cost of inaction can often be significant. Ensure however, that you do get adequate legal advice before commencing any action.”Razvan Popa
If you encounter any issues, or have decided to take a proactive approach to your IP – Virtuoso Legal would be more than happy to assist you in meeting the demands of the emerging marketplace.
Happy new year from the Virtuoso Legal team!
If you have any questions or you would like to speak to one of our specialists, please call:
0113 237 9900
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IP Resolutions from Virtuoso Legal was written by Dr. Martin Douglas Hendry with contributions from the Virtuoso Legal team.